Pitteman

Pitteman

Divergences happening on the 4h and we've hit general resistance for btc. A lot of shorts closed in the past hours changing the ratio by 3 points. This give me more confidence we're not moving in for a huge shortsqueeze past resistance.

Pitteman Updated 

Wanchain is looking really weak. About to break support after a H&S has formed (not the cleanest H&S ever) but given the weak volume and the failed breakouts I think we're in for a large correction to the .618 fib or maybe even lower. C is a bit missplaced.

Pitteman Updated 

Caught it a bit late but I think it can still be a profitable short. Iota had a bearish divergence on the 1h, 2h, 4h iotusd chart and on the 1h, 4h iotbtc chart. Which would have been a great exit point. When the neckline breaks I think we will see at least .64 usd Miota and maybe as far down as .58 usd Miota. It looks like we're in the 4th wave down so one...

Pitteman

Bitcoin moving down on 4h divergence. I wouldn't make the trade down right now. But if you've exited yesterday A reentry around 6700 looks very good. A pullback to .382 and the 4th elliot wave retracement to the top of the 1st wave seems likely.

Pitteman Updated 

1h bearish divergence with a head and shoulder forming. 5th elliot wave completed and is in for a abc correction. We could also be in the 4th wave but same retracement applies.

Pitteman

I think wanchain hit a peak and will be moving down in the next 2 days. I will be laddering back in on the move down.

Pitteman

We've had 2 divergences in the recent uptrend. The last one gave us a 23% move down. I'm looking for at least the same move down from here as well. Volume has been decreasing which gives more weight to the divergence. Depending if this was the 5th wave or the 3rd wave we could go back down as far as .34. But if you want a safer re-entry point without missing out...

Pitteman

We've had 2 divergences in the recent uptrend. The last one gave us a 23% move down. I'm looking for at least the same move down from here as well. Volume has been decreasing which gives more weight to the divergence. Depending if this was the 5th wave or the 3rd wave we could go back down as far as .34. But if you want a safer re-entry point without missing out...